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2024 U.S. Industry Statistics & Market Forecast - Museums and Historical Sites
Market Size & Industry Statistics
The total U.S. industry market size for Museums and Historical Sites:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the Museums and Historical Sites industry include:- Increasing digital engagement and virtual tours
- Focus on diversity and inclusivity in exhibitions
- Growth in government and private funding for cultural preservation
- Rise of interactive and immersive experiences
- Impact of climate change on site preservation
- Enhanced community involvement and educational programs
- Shift towards sustainability in operations
- Adoption of advanced technologies for artifact restoration and conservation
- Growing emphasis on accessibility for all visitors
- Expansion of revenue streams through merchandising and licensing partnerships
- Challenges related to pandemic recovery and visitor safety
- Escalating competition from alternative entertainment options
- Influence of social media on visitor engagement and marketing strategies
- Importance of local and international collaborations for exhibitions and research
- VarChar trend toward storytelling and narrative-driven displays
Product & Services Breakdown
Research products and services in the Museums and Historical Sites industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Admissions To Cultural Institutions |
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Traveling Exhibits |
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Guided Tours And Educative Services |
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School Visits, Children's Parties, And Similar Children's Programs |
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Membership Services |
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Meals And Beverages, Prepared And Served Or Dispensed, For Immediate Consumption |
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Rental Of Non-Residential Space In Buildings Or Other Facilities |
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Resale Of Merchandise |
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All Other Receipts |
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Contributions, Gifts, And Grants - Government |
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Contributions, Gifts, And Grants - Private |
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Investment Income, Including Interest And Dividends |
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Gains (Losses) From Assets Sold (Report Losses By Including A Dash Prior To The Dollar Amount.) |
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All Other Revenue |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) |
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|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Museums and Historical Sites company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Museums and Historical Sites industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Museums and Historical Sites measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 11% | Order at top of page |
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| Chief Executives | 0% | |||
| General and Operations Managers | 5% | |||
| Business and Financial Operations Occupations | 9% | |||
| Business Operations Specialists | 7% | |||
| Educational Instruction and Library Occupations | 14% | |||
| Librarians, Curators, and Archivists | 9% | |||
| Archivists, Curators, and Museum Technicians | 9% | |||
| Building and Grounds Cleaning and Maintenance Occupations | 5% | |||
| Personal Care and Service Occupations | 19% | |||
| Tour and Travel Guides | 8% | |||
| Tour and Travel Guides | 8% | |||
| Sales and Related Occupations | 8% | |||
| Retail Sales Workers | 6% | |||
| Office and Administrative Support Occupations | 13% | |||
| Information and Record Clerks | 5% | |||
Museums and Historical Sites Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Museums and Historical Sites industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Museums and Historical Sites industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Museums and Historical Sites industry. |
Source:
Innovation News
- Jan 26, 2024: Brooklyn Botanic Garden Corpor trademarks "" - Entertainment and educational services
- Jan 26, 2024: Trust For National Mall trademarks "NATIONAL MALL OF PICKLEBALL" - Entertainment in the nature of pickleball tournaments; Providing pickleball court facilities; Pickleball instruction; Organization, arranging and conducting of pickleball games; Conducting tournaments for a paddleball-style sport that uses perforated plastic balls; Arranging, conducting, and hosting social entertainment events; Organizing community festivals featuring primarily pickleball games and tournaments and also providing live performances and food demonstrations
- Jan 16, 2024: National Corvette Museum Foundation trademarks "NCM INSURANCE PROTECTING YOUR PASSION" - insurance agency services in the field of insurance for collector vehicles, high performance driver education, and liability and director and officer insurance for car clubs
- Jan 07, 2021: Georgia Aquarium patents Removing Nitrate From Water
- Aug 23, 2019: 1and8 raises $60 million in funding.
- Nov 08, 2018: New York Botanical Garden patents Hetero-substituted Cyclic Lactone Analogues And Uses Thereof
- Aug 16, 2018: Georgia Aquarium patents Removing Nitrate From Water
- May 23, 2018: Frontpage Attractions Holdings raises $8 million in funding.
- Apr 05, 2017: Frontpage Attractions Holdings raises $10 million in funding.
Recent Federal Contracts for Museums and Historical Sites
- Mar 28, 2024: MOUNTAIN MUSEUM MANAGEMENT LLC (Aurora, CO) awarded $35,601
- Mar 27, 2024: MUSEUM OF NORTHERN ARIZONA, INC (Flagstaff, AZ) awarded $30,829
- Mar 26, 2024: CONSERVATION BY DESIGN INC. (Prescott, AZ) awarded $72,971
- Mar 26, 2024: DESERT BOTANICAL GARDEN, INC., THE (Phoenix, AZ) awarded $244,996
- Mar 18, 2024: FARMER HR, JOSEPH P (Herndon, VA) awarded $7,360
- Mar 18, 2024: WESTERN CULTURAL, INC. (Missoula, MT) awarded $31,632
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